Recession fears make Trump backtrack in trade war with China

San José, CA – On Wednesday, August 14, the U.S. stock market tanked, with the Dow Jones Industrial Average down 800 points, or 3%. The technology-heavy NASDAQ index also fell 3% and the S&P 500 fell just shy of 3%. This is the third day in a row of major market moves: Down more than 450 points on Monday, up 375 points on Tuesday, and now down again.

San José, CA – U.S. stocks fell again on Monday, August 12 as growing recession worries were added to ongoing concern about the direction of Trump’s trade war with China. The Dow Jones Industrial Average fell almost 400 points, or 1.5%, while the broader markets fell by smaller percentages of about 1.2%.

Washington DC – On August 8, China’s Foreign Ministry spokesperson Hua Chunying said that the People's Republic of China would continue economic cooperation with Venezuela. Speaking in Beijing, Hua stated the U.S., “should let the Venezuelan people decide their future and immediately stop the bullying behavior.”

Washington DC – “La Organización Socialista del Camino a la Libertad (FRSO) condena enérgicamente el asesinato en masa realizado en El Paso”, dijo Masao Suzuki, presidente de la Comisión de Nacionalidades Conjuntas de FRSO. Sobre el tirador dijo: “Con una cuenta de Twitter gustando el hashtag BuildtheWall y una foto de armas que deletrean a Trump, está claro que la motivación para este crimen de supremacía blanca está determinada por los ataques racistas de Trump”.

U.S markets have the worst day this year

San José, CA – On Monday, August 5, China replied to Trump’s new tariff threat by calling off the purchases of U.S. agricultural products and weakening government support for the RMB, China’s currency. In response the RMB fell to 14 U.S. cents, meaning it will take slightly more than 7 RMB to buy one U.S. dollar. Soybean prices also fell, as China is the largest foreign buyer of U.S. soybeans.

Washington DC – “The Freedom Road Socialist Organization strongly condemns the mass murder carried out in El Paso,” said Masao Suzuki, chair of the FRSO Joint Nationalities Commission. Of the shooter he said, “With a Twitter account liking the hashtag BuildtheWall and a photo of guns spelling Trump, it is clear that the motivation for this white supremacist crime is shaped by Trump’s racist attacks.”

Caracas, Venezuela – Under the banner of “Comuna o nada,” translated to English as “Communes or nothing,” 100 leaders of Venezuela’s neighborhood groups gathered on July 30. The forum was held at the Ministry of Popular Power for the Communes and Social Movements. This is where the well-respected Minister Blanca Eekhout is in charge.

San José, CA – On Thursday, July 31, President Trump tweeted that he would be imposing new tariffs, or taxes, on the $300 billion of Chinese goods not covered by his 25% tariffs. U.S. stocks took an immediate dive, giving up all of their 300-point gain to drop 280 points for the day. They continued to fall on Friday, leading to the worst week for U.S. stocks all year.

Caracas, Venezuela – A delegation of members from the Chicago Teachers Union (CTU) arrived in Caracas, Venezuela last week. Their goals were to learn what they could from Venezuela’s Bolivarian Revolution, exchange views on effective education and to show solidarity with the students, teachers and social movements of Venezuela.

Aurora, CO – Hundreds of protestors marched from the Peoria transit station to the corporate-run GEO Group ICE Processing Center on July 12. The march was led by the Coalition to Close Concentration Camps. The coalition is composed of many local immigrant rights groups and community activists demanding President Trump close the camps.